A joint venture between the two – Nuclear Innovation North America – will focus on marketing, siting, developing, financing and investing in new advanced design nuclear projects across the US based on the ABWR concept, including the South Texas Project, a two-unit 2,700MW nuclear plant that NRG is developing with San Antonio, Texas’ CPS Energy.
Toshiba – which will serve as the prime contractor on all the company’s projects – will invest $300m in the company over the next six years and will receive a 12 per cent equity ownership of the company.
As the prime contractor of the STP project, Toshiba is currently providing licensing support and leading all engineering and scheduling activities, which ultimately will lead to responsibility for constructing the project. Toshiba is also proceeding with securing the necessary long-lead material for the project, which to date has included securing heavy forgings and a reactor pressure vessel.
Toshiba has built two of four ABWR units already commissioned in Japan. Nuclear Innovation North America intends to use the certified design with only a limited number of changes
NRG anticipates that the two units for the South Texas Project will come online in 2015 and 2016.